■FINANCE
BNP Paribas profit leaps
French bank BNP Paribas has surpassed analyst expectations by reporting a 45 percent increase in the third quarter net profit thanks to investment banking earnings and after its acquisition of Belgian lender Fortis. The euro-zone’s largest banking group said in a statement yesterday that it earned a net profit in the July to September quarter of 1.3 billion euros (US$1.93 billion) compared with 901 million euros a year earlier. Revenue at its investment bank rose 43 percent to 2.93 billion euros and increased 5 percent at its retail banking unit to 4.58 billion euros.
■CONSUMER GOODS
Unilever profit drops 36%
Unilever NV, the maker of Dove soaps and Ben & Jerry’s ice cream, says its profit fell 36 percent in the third quarter, due mostly to the sale of operations a year ago. The company has reported net profit of 1.05 billion euros, down from 1.64 billion euros in the same period a year earlier, when Unilever booked a 487 million euro gain on the sale of its seasonings businesses. Third quarter sales were down 2 percent to 10.2 billion euros.
■MEDIA
News Corp profit rises
Media conglomerate News Corp posted a surprise increase in quarterly profit on Wednesday, but chief executive Rupert Murdoch said the company might not meet its goal of charging fees for online versions of its newspapers by next summer. Profits at the wide-ranging company got a boost from the box-office success of Ice Age: Dawn of the Dinosaurs as well as from strength at its cable networks like Fox News Channel. But advertising revenues fell during the company’s fiscal first quarter, which ended on Sept. 30, at newspapers worldwide and local TV stations in the US. Net income increased 11 percent to US$571 million, or US$0.22 per share, compared with US$515 million, or US$0.20 per share, in the year-ago period. Revenue fell 4 percent to US$7.2 billion, in line with estimates.
■ELECTRONICS
Samsung to pay Qualcomm
South Korea’s Samsung Electronics said yesterday it would pay US$1.3 billion plus royalties to US wireless chip supplier Qualcomm under a new 15-year licensing deal. Samsung, the world’s second-largest mobile phone maker, said it would make the advance payment for the use of Qualcomm’s licenses in wireless technology including code division multiple access (CDMA). The firm said it would also grant Qualcomm the right to use Samsung’s 57 patent licenses in mobile technology. It said the technology in the cross-licensing deal includes fourth-generation wireless technology used in handset devices and base stations.
■CONSTRUCTION
Burj Dubai delays opening
Visitors will have to wait until early next year for the opening of the world’s tallest building in Dubai. The media office of the city-state’s ruler said on Wednesday the hulking Burj Dubai will now debut on Jan. 4, a month later than expected. The new opening date is timed to coincide with the fourth anniversary of Sheik Mohammed bin Rashid Al Maktoum’s appointment as ruler of Dubai. The tower reached 512m in the summer of 2007, surpassing Taiwan’s Taipei 101 — the previous world’s tallest. The skyscraper now stands more than 800m tall, however officials have yet to confirm its final height.
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